$MRNS
MARINUS PHARMACEUTICALS, INC.

2020 Q4 Form 10-Q Financial Statement

#000155837020013366 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $1.550M $171.0K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.010M $4.560M $2.330M
YoY Change 103.04% 95.71% 12.56%
% of Gross Profit
Research & Development $13.04M $11.31M $11.57M
YoY Change 4.24% -2.3% 26.47%
% of Gross Profit
Depreciation & Amortization $90.00K $70.00K $90.00K
YoY Change 12.5% -22.22% 350.0%
% of Gross Profit
Operating Expenses $19.05M $11.31M $11.57M
YoY Change 23.14% -2.3% 3.14%
Operating Profit -$15.70M -$13.90M
YoY Change 12.95%
Interest Expense $40.00K $80.00K $90.00K
YoY Change -42.86% -11.11% -18.18%
% of Operating Profit
Other Income/Expense, Net -$10.00K -$39.00K $0.00
YoY Change 0.0%
Pretax Income -$17.47M -$15.66M -$13.81M
YoY Change 13.37% 13.4% 24.3%
Income Tax
% Of Pretax Income
Net Earnings -$17.47M -$15.66M -$13.81M
YoY Change 13.37% 13.42% 24.27%
Net Earnings / Revenue -1127.1% -9157.31%
Basic Earnings Per Share -$0.51
Diluted Earnings Per Share -$640.6K -$0.51 -$1.051M
COMMON SHARES
Basic Shares Outstanding 30.59M 30.55M
Diluted Shares Outstanding 30.55M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.0M $91.30M $39.90M
YoY Change 52.67% 128.82% 0.76%
Cash & Equivalents $138.5M $87.34M $37.16M
Short-Term Investments $1.500M $4.000M $2.700M
Other Short-Term Assets $4.600M $3.900M $1.300M
YoY Change 84.0% 200.0% 8.33%
Inventory
Prepaid Expenses
Receivables $1.646M
Other Receivables $0.00
Total Short-Term Assets $146.3M $95.17M $41.10M
YoY Change 55.38% 131.56% 0.74%
LONG-TERM ASSETS
Property, Plant & Equipment $1.945M $2.026M $4.600M
YoY Change -14.13% -55.96% 253.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.250M $2.328M $0.00
YoY Change -7.9%
Total Long-Term Assets $4.195M $4.354M $4.700M
YoY Change -10.9% -7.36% 261.54%
TOTAL ASSETS
Total Short-Term Assets $146.3M $95.17M $41.10M
Total Long-Term Assets $4.195M $4.354M $4.700M
Total Assets $150.5M $99.53M $45.80M
YoY Change 52.22% 117.31% 8.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.211M $2.999M $3.600M
YoY Change -19.98% -16.69% 24.14%
Accrued Expenses $8.518M $6.440M $5.000M
YoY Change 61.69% 28.8% 25.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.73M $9.439M $8.600M
YoY Change 33.59% 9.76% 24.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.500M $2.700M $3.200M
YoY Change -16.67% -15.63% 3100.0%
Total Long-Term Liabilities $2.500M $2.700M $3.200M
YoY Change -16.67% -15.63% 3100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.73M $9.439M $8.600M
Total Long-Term Liabilities $2.500M $2.700M $3.200M
Total Liabilities $13.26M $12.10M $11.70M
YoY Change 19.78% 3.44% 67.14%
SHAREHOLDERS EQUITY
Retained Earnings -$311.9M -$294.5M
YoY Change 32.41%
Common Stock $37.00K $31.00K
YoY Change 68.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $7.307K $7.307K
Shareholders Equity $137.2M $87.42M $34.07M
YoY Change
Total Liabilities & Shareholders Equity $150.5M $99.53M $45.80M
YoY Change 52.22% 117.31% 8.79%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$17.47M -$15.66M -$13.81M
YoY Change 13.37% 13.42% 24.27%
Depreciation, Depletion And Amortization $90.00K $70.00K $90.00K
YoY Change 12.5% -22.22% 350.0%
Cash From Operating Activities -$16.40M -$14.46M -$12.00M
YoY Change 0.92% 20.5% 76.47%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$20.00K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.480M $2.980M -$230.0K
YoY Change 24.62% -1395.65% -104.6%
Cash From Investing Activities $2.480M $2.980M -$250.0K
YoY Change 26.53% -1292.0% -105.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 65.09M -100.0K -20.00K
YoY Change -4.38% 400.0%
NET CHANGE
Cash From Operating Activities -16.40M -14.46M -12.00M
Cash From Investing Activities 2.480M 2.980M -250.0K
Cash From Financing Activities 65.09M -100.0K -20.00K
Net Change In Cash 51.17M -11.58M -12.27M
YoY Change -4.85% -5.62% 581.67%
FREE CASH FLOW
Cash From Operating Activities -$16.40M -$14.46M -$12.00M
Capital Expenditures $0.00 $0.00 -$20.00K
Free Cash Flow -$16.40M -$14.46M -$11.98M
YoY Change 1.11% 20.7% 76.18%

Facts In Submission

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CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
312000
CY2020Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
27000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-18672000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
43112000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1796000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
200000
CY2020Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
19455000
CY2020Q2 mrns Stock Issued During Period Value Equity Distribution Agreement
StockIssuedDuringPeriodValueEquityDistributionAgreement
602000
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
42910000
CY2020Q2 mrns Transfer Of Convertible Preferred Stock To Permanent Equity Value
TransferOfConvertiblePreferredStockToPermanentEquityValue
8745000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-15675000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
101145000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1849000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
104000
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-16000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-15659000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
87423000
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-294500000
CY2020Q3 mrns Contract Funding Provided During Base Period
ContractFundingProvidedDuringBasePeriod
21000000
CY2019Q4 mrns Proceeds From Issuance Of Common Stock And Preferred Stock
ProceedsFromIssuanceOfCommonStockAndPreferredStock
65700000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from such estimates.</p>
us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
20747
CY2020Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
1850600
CY2020Q1 mrns Convertible Preferred Stock Deemed Dividends
ConvertiblePreferredStockDeemedDividends
8900000
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P59M
CY2020Q3 mrns Operating Lease Decrease Increase In Right Of Use Assets Attributable To Lease Incentives
OperatingLeaseDecreaseIncreaseInRightOfUseAssetsAttributableToLeaseIncentives
900000
CY2019Q4 mrns Operating Lease Decrease Increase In Right Of Use Assets Attributable To Lease Incentives
OperatingLeaseDecreaseIncreaseInRightOfUseAssetsAttributableToLeaseIncentives
900000
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2492000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2514000
CY2020Q3 mrns Clinical Trials And Drug Development Current
ClinicalTrialsAndDrugDevelopmentCurrent
2715000
CY2019Q4 mrns Clinical Trials And Drug Development Current
ClinicalTrialsAndDrugDevelopmentCurrent
1849000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
714000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
396000
CY2020Q3 mrns Lease Liability Short Term
LeaseLiabilityShortTerm
496000
CY2019Q4 mrns Lease Liability Short Term
LeaseLiabilityShortTerm
446000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
63000
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6440000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5268000
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4000000.0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5200735
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2115972
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2000000.0
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2200000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3200000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3500000
CY2020Q3 us-gaap Lease Cost
LeaseCost
200000
CY2019Q3 us-gaap Lease Cost
LeaseCost
500000
us-gaap Lease Cost
LeaseCost
200000
us-gaap Lease Cost
LeaseCost
500000
CY2020Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.110
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
203000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
818000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
807000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
823000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
840000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
642000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4133000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
973000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3160000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
496000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2664000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3160000

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